23 January 2012
Landkom International PLC
Result of Court Meeting and Extraordinary General Meeting, suspension of trading and cancellation from trading on AIM
Landkom International PLC (AIM: LKI, "Landkom" or "the Company"), the Ukrainian producer of agricultural commodities, is pleased to announce that, at the meeting convened by direction of the High Court of Justice of the Isle of Man and held earlier today, the proposed scheme of arrangement between the Company and the Scheme Shareholders to implement the acquisition by Alpcot Agro AB of the entire issued share capital of Landkom was approved by Scheme Shareholders.
At the Extraordinary General Meeting of Landkom Shareholders, held subsequent to the Court Meeting, the resolution to approve certain matters necessary to implement the Scheme was also duly passed.
COURT MEETING
The voting on the resolution to approve the Scheme was taken on a poll (each Scheme Shareholder having one vote for each Scheme Share held) and the results were as follows:
Number of Scheme Shareholders voting: For: 45 (91.84%) Against: 4 (8.16%)
Number of votes: For: 264,623,904 (99.25%) Against: 1,987,813 (0.75%)
LANDKOM EGM
The voting on the resolution to approve certain matters necessary to implement the Scheme was taken on a poll (each Landkom Shareholder having one vote for each Landkom Share held) and the results were as follows:
Number of votes: For: 268,345,799 (99.99%) Against: 30,131 (0.01%).
Completion of the Acquisition remains subject to the satisfaction or waiver of the other Conditions, including the Court sanctioning the Scheme which is expected to take place on 25 January 2012. Subject to the Scheme receiving the sanction of the Court on that date, the Scheme is expected to become effective on 26 January 2012.
SUSPENSION AND CANCELLATION
Trading in Landkom Shares on AIM will be suspended with effect from 07:30 on 24 January 2012.
It is expected that, following satisfaction or waiver of the other Conditions, cancellation of the Landkom Shares from admission to AIM will take effect from 07:00 on 31 January 2012. A further announcement will be made in due course.
Capitalised terms used in this announcement have the same meaning as given to them in the Scheme Circular which was posted to shareholders on 29 December 2011. All references in this announcement to times are to UK time unless otherwise stated.
For further information:
Landkom International Plc (www.landkominternational.com) | |
Neil Balfour, Chairman Vitaliy Skotsyk, Chief Executive | +44 (0) 20 7199 3222 +380 50352 5029 |
John Mapplebeck, Finance Director | +44 (0)20 7726 2690 |
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Liberum Capital | |
Simon Atkinson/Tim Graham | +44 (0)20 3100 2000 |
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College Hill | |
Adrian Duffield/Rozi Morris | +44 (0)20 7457 2020 |
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